A former Michigan man has been sentenced to seven years and three months in prison for failing to file income tax returns and a scheme involving the bogus recovery of gold bars supposedly buried by Japanese soldiers during World War II.
The U.S. Attorney's office in Grand Rapids says Friday that Freeman Carl Reed also is ordered to pay $1.3 million in restitution to victims of the fraud.
Reed, formerly of St. Joseph, pleaded guilty in the fraud case after his February tax conviction.
Authorities say money was solicited from investors to recover Yamashita's gold, reportedly hidden in the Philippines at end of the war. Investors were told their money was needed to extract it.
Other investors were told Reed had access to gold certificates worth millions of dollars.